Patriot Financial Group Insurance Agency LLC Has $2.29 Million Stake in Webster Financial Corporation $WBS

Patriot Financial Group Insurance Agency LLC boosted its stake in Webster Financial Corporation (NYSE:WBS) by 95.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,038 shares of the financial services provider’s stock after acquiring an additional 16,132 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Webster Financial were worth $2,294,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA boosted its stake in Webster Financial by 6.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 26,509 shares of the financial services provider’s stock worth $1,840,000 after purchasing an additional 1,575 shares during the period. Wealth Effects LLC acquired a new stake in shares of Webster Financial in the 1st quarter valued at about $212,000. Louisiana State Employees Retirement System acquired a new stake in shares of Webster Financial in the 1st quarter valued at about $3,242,000. Ritholtz Wealth Management lifted its holdings in shares of Webster Financial by 26.0% in the first quarter. Ritholtz Wealth Management now owns 7,268 shares of the financial services provider’s stock valued at $505,000 after purchasing an additional 1,499 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Webster Financial by 2.4% in the first quarter. Blue Trust Inc. now owns 9,356 shares of the financial services provider’s stock valued at $649,000 after purchasing an additional 215 shares in the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Wells Fargo & Company raised Webster Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Webster Financial in a research report on Friday, June 12th. Keefe, Bruyette & Woods cut their target price on Webster Financial from $79.00 to $77.50 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Santander downgraded Webster Financial from a “neutral” rating to an “underweight” rating in a research report on Tuesday, March 3rd. Finally, UBS Group started coverage on shares of Webster Financial in a research note on Tuesday, April 7th. They set a “neutral” rating and a $69.00 price target for the company. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $73.96.

Webster Financial Trading Down 0.1%

Shares of NYSE:WBS opened at $75.54 on Monday. The company’s 50-day moving average price is $72.97 and its two-hundred day moving average price is $69.68. Webster Financial Corporation has a one year low of $52.69 and a one year high of $76.13. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $12.24 billion, a PE ratio of 12.36 and a beta of 1.01.

Webster Financial (NYSE:WBS) last announced its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.04. The company had revenue of $764.05 million during the quarter, compared to analysts’ expectations of $735.26 million. Webster Financial had a return on equity of 11.31% and a net margin of 22.95%.Webster Financial’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.30 EPS. On average, equities analysts forecast that Webster Financial Corporation will post 6.59 EPS for the current fiscal year.

Webster Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.60 annualized dividend and a yield of 2.1%. Webster Financial’s dividend payout ratio is 26.19%.

Webster Financial Company Profile

Webster Financial Corporation is a bank holding company headquartered in Waterbury, Connecticut. Through its principal subsidiary, Webster Bank, N.A., the company offers a broad range of banking products and financial services to individuals, small businesses, and middle-market commercial clients. Key offerings include deposit accounts, residential and commercial real estate lending, equipment finance, treasury management, and payment processing solutions.

In addition to traditional banking services, Webster Financial provides wealth management and insurance products designed to help clients plan for retirement, preserve assets, and manage risk.